Starbucks

1631 West Foxwood Drive, Raymore, MO 64083

$2,593,250

Cap Rate 6.00%

$2,637,200

Cap Rate 5.90%

DOM: 241 Updated: 03.05.24 Posted: 07.03.23 Status: Sold 03.01.24

Summary

Price $2,593,250 $2,637,200	Built/Renov 2023	Tenant Starbucks
Cap Rate 6.00% 5.90%	Lease Type NN+	Guarantor Corp T and Rated
Size/SF 2,025	Lease Start 10-01-2023	#Units 36,000
Price/SF $1,280.62 $1,302.32	Expiration 10-01-2038	Tenant Type Fast Food/QSR
NOI $155,595	R. Term 13.4	Ownership Fee Simple
Rent/SF $76.84	Increases 7.5%/5/yrs	Pop 5Mi 88,124
Lot/AC 1.25	Options 4/5yrs/7.5%	AHHI 5Mi $67,368

Lease Highlights

High-Quality 2023 construction with a Drive-Thru
Brand new 15-year corporate lease with Starbucks (NASDAQ: SBUX)
Lease features 4 (5-year) options to renew with 7.5% rental increases every 5 years
Starbucks is an investment grade tenant (S&P: BBB+)

Location Description

This newly constructed Starbucks is strategically located near the signalized intersection of Foxwood Drive & Mott Drive which sees more than 25,000 vehicles passing by daily. The site is positioned one mile off Interstate 49, a significant Kansas City connector with direct access to downtown Kansas City. Several national/credit tenants surround the subject property including Walmart, Sam’s...

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Key Features

New construction
Dense retail corridor
Top 100 MSA
Affluent suburb location
Population increase trend
Brand new lease
Long 15+ yr lease
Favorable NN+ lease
Traded and rated company
Investment grade tenant

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Links

Starbucks Wikipedia Starbucks Wikipedia Raymore, Missouri Zip Code 64083 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Starbucks
Guarantor:Corp T and Rated
Company:Starbucks Corporation
# Units:36,000
Tenant S&P: BBB+
Moody’s: Baa1
Stock: NASDAQ: SBUX

About Tenant

Starbucks Corporation is the leading roaster, retailer, and marketer of specialty coffee in the world. In addition to drinks and food, many stores carry Starbucks' official merchandise, such...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	9,715	45,324	70,490
2023 Total Population :	9,186	43,291	68,530
2023 Employed Civilian Pop :	4,841	21,676	34,113
2023 Total Businesses :	264	1,058	1,350
2023 Average Household Income :	$ 116,544	$ 105,205	$ 102,728
2023 Total Consumer Spending :	$ 357 M	$ 1535 M	$ 2337 M
2023 Median Age :	38	38	38
2023 Total Households :	3,557	16,908	26,380
2023 Pop Age 25+: Bachelor's Degree :	1,284	6,157	9,701
2023 Average Home Value :	$ 288,657	$ 261,577	$ 262,904

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
W Foxwood Dr	Mott Dr	2012	24,036	0.15 mi
W Foxwood Dr	Mott Dr	2019	26,369	0.23 mi
Kentucky St	170th St	2015	2,720	0.30 mi
W Foxwood Dr	Clint Dr	2009	27,071	0.32 mi
S Dean Rd	Hickoryleaf Ln	2011	8,173	0.36 mi
W Foxwood Dr	Clint Dr	2016	33,549	0.42 mi
Kelly Rd	W Foxwood Dr	2011	4,545	0.61 mi
S Fox Ridge Dr	Johnston Dr	2012	4,419	0.61 mi
E 171st St	Bel Ray Pl	2019	33,843	0.64 mi
E Outer Rd	E 171st St	2015	5,944	0.77 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

191 Listings
34044 Views
127 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

192 Listings
34155 Views
128 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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